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*IAG presents formal bid for Aer Lingus. DUBLIN, May 26- The Irish government agreed on Tuesday to sell its 25 percent stake in Aer Lingus to IAG, paving the way for the owner of British Airways and Iberia to make a formal bid to buy the Irish carrier. International Consolidated Airlines Group's proposed 1.36 billion euro offer for Aer Lingus was recommended by the...

ATHENS/ BRUSSELS, May 26- Greece and its Europeans creditors on Tuesday sought to play down fears that Athens would default on a payment to the International Monetary Fund next week. Running short of cash to pay public sector salaries, pensions and debt obligations, senior members of Prime Minister Alexis Tsipras's government have said openly that Greece does...

*Profit up 66 pct in year to March 31. DUBLIN, May 26- Ryanair forecast a 10 percent rise in profit and passenger numbers in its current financial year as it targets more primary airports and improves its online offering to compete better with rivals such as easyJet and former flag carriers. Ryanair has made huge strides in catching up with rivals since launching...

NEW YORK, May 22- Actavis Plc cannot pull its top-selling Alzheimer's drug from the market in favor of a pricier extended-release version, a federal appeals court in New York ruled on Friday. The decision at the 2nd U.S. Circuit Court of Appeals is a win for New York State Attorney General Eric Schneiderman, who sued to block the switch, arguing that Actavis was...

LONDON, May 22- A shortage of prime office space in rival European financial centres may torpedo plans by some of London's banks to quit the UK capital if Britain opts out of European Union membership. Deutsche Bank, the euro zone's second largest bank by assets, confirmed this week it was considering cutting its UK operations if the country pulled out, and other...

BUENOS AIRES, May 21- Weatherford Drilling International expects to win contracts in the next two or three months to deploy rigs to Argentina where foreign energy majors are exploring one of the world's largest shale resources, a senior company official said on Thursday. "Over the next five to 10 years, we see only upside in Argentina." Weatherford Drilling...

BRUSSELS, May 20- Firms such as Google and Microsoft will face stiffer fines if they violate Europe's "right to be forgotten" online rules, according to a draft text agreed by European Union ambassadors on Wednesday, diplomatic sources said. EU member states are negotiating an overhaul of the bloc's outdated privacy laws in a bid to make them more harmonised and...

*Ex-regulator Sants to lead review of UK competitiveness. FRANKFURT/ LONDON, May 19- Deutsche Bank is considering cutting its UK operations should the country pull out of the European Union and an industry lobby group said several other banks are mothballing investments until the outcome of Britain's EU referendum is known. It is not the only one to rethink...

BRUSSELS, May 15- Facebook tramples on European privacy laws by tracking people online without their consent and dodges questions from national regulators, Belgium's privacy watchdog said on Friday. Belgium's Privacy Protection Commission, which is working with German, Dutch, French and Spanish counterparts, launched the blistering attack after trying to...

HELSINKI, May 11- Finnish home and garden products company Fiskars said it was buying china and glass maker WWRD for $437 million to put more focus on luxury brands and boost growth in the United States. WWRD, which manufactures under brands such as Wedgwood, Waterford and Royal Doulton, is currently owned by U.S. private equity firm KPS Capital Partners and has...

*Wall Street rebounds, European shares slip. NEW YORK, May 7- The global bond market rout slowed on Thursday as long-term borrowing costs retreated from their highest levels in more than five months, helping a mild recovery on Wall Street and for European stocks. "We had a real capitulation in markets this morning and there was no obvious catalyst," said Owen Callan, a...

April 29- Apple Inc said the European Commission's investigation into Ireland's tax treatment of multinationals could have a "material" impact if it was determined that Dublin's tax policies represented unfair state aid. Apple said that if the EU's investigations concluded against Ireland, the company could be required to pay past taxes for up to 10 years "...

WASHINGTON- Federal Reserve Division of Banking Supervision and Regulation Deputy Director Mark van der Weide testifies on insurance regulation before the House Financial Services subcommittee on housing and insurance- 1400 GMT. Treasury Under Secretary for International Affairs Nathan Sheets speaks on "What to Expect from the Next U.S.- China...